Arizona Title Company
If you are getting ready to purchase a home, you may want to consult an Arizona title company. A title company is responsible for ensuring that the title to a home is legitimately given to the home buyer. Here are some of the most common title issues that can occur during real estate transactions:
If the previous homeowner has outstanding debt, creditors can put a lien on the house. If you buy the home, you will be responsible for paying the debt. While this may seem unfair, it’s how it works. That is why you should have a title company perform a title search as soon as possible. They can discover liens before you close on the property.
After a person dies, his or her heirs may have rights to the decedent’s property. However, sometimes these heirs are unknown or missing at the time of death. Unfortunately, this could jeopardize your property rights.
Even if you legally own a home and the land surrounding it, an unknown easement could prevent you from using it the way you want. For example, it might prohibit you from expanding your home in the future. A title company can find all of this out for you during a title search.
Believe it or not, title problems can occur due to simple clerical errors. For example, a person’s name may be spelled incorrectly or not indexed properly. To avoid headaches down the road, you should hire an Arizona title company to perform a title search promptly.
Unfortunately, there are some dishonest people in this world. If any document relating to the ownership of a property is forged, it could severely harm your property rights. That is another good reason to work with a reputable title company. They will make sure that no forged documents exist before your closing date.
Impersonating a homeowner
As difficult as it may be to believe, some people actually take the name and identity of another homeowner to sell their property. If this occurs, the sale of the property will be void and you won’t have rights to the home anymore. Have a title company perform a title search to prevent this type of nightmare from happening.
Schedule a consultation with an Arizona title company. Contact Closeline Settlements today.